dow sp 500 end week at records dollar tumbles
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Dow, S&P 500 end week at records; dollar tumbles

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleDow, S&P 500 end week at records; dollar tumbles

A trader works on the floor of the New York Stock Exchange. Read more at http://www.channelnewsasia.com/news/business/dow-s-p-500-end-week-at-records-dollar-tumbles-9034180
New York - AFP

Wall Street stocks finished at fresh records on Friday (Jul 14) following solid bank earnings, while the dollar retreated after lacklustre US data raised questions about additional Federal Reserve rate hikes.

The Dow and S&P 500 ended at fresh records in anticipation that the positive bank results foreshadow a generally strong earnings period. The records, the third in a row for the Dow, capped a strong week for US stocks that some analysts attributed to commentary from Fed Chief Janet Yellen that was more dovish than expected.

The Dow Jones Industrial Average rose 84.65 points (0.39 per cent) to 21,637.74 and its third straight record.

The broad-based S&P 500 gained 11.44 points (0.47 per cent) to end at 2,459.27, beating the previous record set on Jun 19, while the tech-rich Nasdaq Composite Index advanced 38.03 points (0.61 per cent) to 6,312.47.

Equity markets elsewhere were mixed, with London and Frankfurt down, Tokyo up and Paris flat.

JPMorgan Chase, Citigroup and Wells Fargo all reported higher earnings than expected by Wall Street analysts, showing the benefits of higher US interest rates, despite a drop in revenue from trading divisions.

However, share prices for all three banks fell, with JPMorgan losing 0.9 per cent, Citigroup 0.4 per cent and Wells Fargo 1.1 per cent.

"The fact that the banks started off the earnings season with very good earnings will bode well," said Bill Lynch, director of investment at Hinsdale Associates. "Most strategists expect the season to be a good one with earnings going up at least six per cent, maybe as much as nine per cent."

On foreign exchanges, the dollar struggled after disappointing US inflation and retail sales data for June, falling against the pound and the euro.

"The morning's data, particularly the cooler than expected CPI figures, seem to justify Fed Chair Janet Yellen's more cautious tone this week in her Congressional testimony," said Omer Esiner, analyst at Commonwealth Foreign Exchange.

"The lack of meaningful evidence of a strong rebound in the economy in the second half of this year could continue to keep the dollar pressured."

Oil prices rose for the fifth straight day amid signs of greater balance between supply and demand.

source: AFP

 

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dow sp 500 end week at records dollar tumbles dow sp 500 end week at records dollar tumbles

 



Themuslimchronicle, themuslimchronicle

GMT 04:05 2016 Saturday ,14 May

EU to provide €55mln for Burundi's people

GMT 08:20 2016 Friday ,22 April

Microsoft profit down 25 percent to $3.8bn

GMT 20:34 2017 Monday ,30 October

Ethiopian 'Red Terror' trial opens in Dutch court

GMT 08:01 2017 Monday ,24 July

A look at major issues Duterte is confronting

GMT 19:41 2017 Wednesday ,23 August

Chad to shutter Qatar embassy, expel diplomats

GMT 01:25 2016 Monday ,26 December

PM congratulates Christians on Christmas

GMT 11:45 2017 Thursday ,02 November

Guantanamo judge finds US general in contempt of court

GMT 01:46 2015 Wednesday ,29 April

VCUQatar names dean for school of Arts

GMT 11:26 2017 Wednesday ,22 February

Dutch corporate takeover defences tough to breach

GMT 21:03 2017 Friday ,07 April

Landmine Kills 20 Civilians in Somalia

GMT 09:17 2018 Monday ,22 January

Syria army says captured key military airport

GMT 10:23 2018 Thursday ,18 January

65 Israeli laws that discriminate against non-Jews

GMT 13:47 2017 Wednesday ,02 August

Tillerson sends senior envoys to handle Qatar crisis

GMT 07:13 2017 Friday ,21 April

Noha Abdeen in 2 drama shows in Ramadan

GMT 05:02 2017 Wednesday ,25 January

European stocks brush off Brexit court ruling
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle